EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.

A continuation of the downward movement downwards to the next support at 1.6118 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 1.61396 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair could go down.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.

Then a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

1.61396 – 1.61324 – 1.61567 – 1.6118 – 1.61077 – 1.61055 —
1.61420 – 1.61401 —
46.365484602548 – 48.618204771138 —
– —
1.61396 – 1770188400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Engulfing – – – – – – – – –